Dwolla part of subpoena process regarding Bitcoin

Wednesday, August 14, 2013 11:04 AM

Dwolla Inc. was one of 22 digital-currency companies to receive a subpoena from New York's top banking regulator,Bloombergreported. The subpoenas were sent to determine whether new regulations should be adopted to govern the industry in regard to Bitcoin, a virtual currency. Dwolla spokesman Jordan Lampe toldThe Des Moines Register in a statement, "Neither Dwolla nor its financial partners process, sell, or package virtual currency products or services." He added, "Dwolla is known for providing an improved financial environment for greater economic growth, accountability, and transparency, and has a rich history of promoting responsible innovation, regulatory compliance, and best practices, which it intends to continue."